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Quadrise Fuels International PLC - London-based residual oil technology licensor - Signs framework agreement with MSC Shipmanagement Ltd, a wholly-owned subsidiary of MSC Mediterranean Shipping Company SA. Under the deal with the Cypriot firm, Quadrise will carry out tests using its technology aiming to reduce MSC's energy consumption on its fleet and therefore its energy costs. Further, the firms aim to negotiate a collaborative commercial agreement for Quadrise to supply its technology to MSC.
Current stock price: 1.56 pence, up 13% on Wednesday
12-month change: down 48%
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